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Joint Stock Company (JSC) - Akciju sabiedriba (AS)

JSC is legal person which fixed capital consists of sum of nominal value parts of fixed capital and its shares are traded publicly. Latvian Joint Stock Company is considered to be established and has a status of a legal person starting from the day when it is registered in the Commercial Register. Application includes documents of incorporation (an incorporation agreement and articles of association). Document for establishment of management bodies are and appointment of an auditor must be included with application. There must be a certain amount of the equity capital is paid-up (minimum 36000 euro). The JSC’s management bodies are shareholder meeting, board of directors and council. Similarly as owners of shares of LLC, the owners of shares of the Joint stock company may be legal entities and individuals. Minimum number –is one. The maximum number of shareholders is unlimited. The rights of shareholders depend on the category of shares. Shareholders decide on the appointment of the council, the distribution of profit, appointment of remuneration for board of directors and council. The Council is a management body of a company representing interests of stockholders between meetings and monitoring activities of the board. The board of directors is an executive body of the company which manages and represents the company, is responsible for conducting business, accounting, manages the property and makes use of the company’s resources in compliance with the laws and regulations, articles of association and decisions of the stockholder meeting. The JSC is liable with its property.

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